Full Court Press in Europe

Now that August vacations are over in Europe, the European Movement  is back in the game, pressing hard for economic and political unification, making headlines. Here are some of the recent statements:

European Central Bank – Mario Draghi announces a plan to buy short-term sovereign debt with no “ex ante” limit but under certain “conditions.”

German Constitutional Court – Issued a provisional ruling (full ruling TBA) that clears the way for Germany to ratify, with conditions, a permanent bank bailout fund for the eurozone: the European Stability Mechanism (ESM).

Klaus Regling – As the head of the EFSF and the likely head of the ESM (which would eventually replace it), stated that “the euro is irreversible” and that “resolutions proposed by the European Commission can be adopted even against a majority of euro area countries [which] reduces the possibility of political interference significantly.”

Manuel Barroso, President of the European Commission, in his State of the (E)Union Address 2012, offered what he called a “Decisive Deal for Europe” which “requires the completion of a deep and genuine economic union, based on a political union.”

A full-court press in short against Europe’s centrifugal tendencies, such as … a third Greek bailout.

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